Word: congressed
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Influencing a $19 trillion market that is coming off one of history's great asset bubbles is a lot harder than it looks. In December, houses sold for 15% less than they did a year earlier. No act of Congress could change that. Says Wellesley College economist Karl Case: "Let's not delude ourselves into thinking we're driving a speedboat when we're driving a tanker...
...disagree with Kinsley that fixing it would be a nightmare. Just pay me back what I put into the system over the years. Any more than that is simply welfare, and I should receive it only when I desperately need it. Of course, to make such a radical change, Congress would have to show some backbone to withstand the weight of a million AARP members descending on them. Are we really ready for President Obama's "new age" of "hard choices"? Chuck Irwin, WILLIAMSBURG...
...that's not going to stave off depression. And so government indebtedness and spending are being substituted for consumer indebtedness and spending. The federal deficit is projected to hit $1.2 trillion this year, and that's not counting the close to $1 trillion in further stimulus being contemplated by Congress...
...Despite Congress's holding emergency weekend sessions to push through a stimulus plan, educators in many states lament the fact that schools won't see a penny of the extra money until at least July. According to O'Connell, some of California's poorest districts are running out of cash for subsidized meal programs. The Hayward district is planning layoffs that would increase class size in primary grades from 20 students to 32. In Lake Elsinore, schools have turned off the lights in many rooms - and placed duct tape over the switches - to save money on electricity bills...
...White House. Those two Maine moderates, plus Pennsylvania Republican Senator Arlen Specter, provided the margin that prevented Republicans from holding Barack Obama's stimulus package hostage to a filibuster. They also represent the sum total to date of Obama's claim of bipartisan support for his economic plans in Congress...